Customer Service Software Market Size to Touch USD 58.1 Billion By 2030, According to Acumen Research and Consulting

TOKYO, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Customer Service Software Market Size in 2021 was USD 10.5 Billion, Market Value set to reach USD 58.1 Billion by year 2030 at 21.1% CAGR.

Customer Service Software Market Overview

Customer service software is a type of software that is designed to help businesses manage and improve their customer service operations. The software comes with features such as ticket tracking, live chat, email integration, and knowledge base management. These tools have many benefits, which include allowing businesses to streamline their customer service processes, improving communication with customers, and providing more efficient and effective support. These solutions can be used by businesses of all sizes, from small startups to large enterprises. They can be used as standalone systems or integrated with other business software, like CRM and marketing automation software.

The customer service software market size is growing at an excellent pace and is driven by the increasing demand for more efficient and effective customer service practices.

The various types of customer service software include: Helpdesk software, Live chat software, Call center software, Email management software, Social media management software.

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Customer Service Software Market Report Coverage:

Some popular customer service software options include Zendesk, Freshdesk, and Helpshift.

Customer Service Software Market Research Report Highlights and Statistics

• Global customer service software market is set to reach USD 58100 million by 2030, at a CAGR of 11.5% during the forecast period (2022-2030).
• One of the major factors for market growth is noted as the increasing adoption of cloud-based customer service software as they provide businesses with easy access to customer service data as well as enhance team member collaboration.
• SMEs segment to experience highest growth during the forecast period, due to the growing need for cost-effective customer service solutions among SMEs.
• North America is expected to dominate the global customer service software market, due to the presence of a large number of leading customer service software providers in the region.
• Some of the key players in the customer service software market include Salesforce, Zendesk, Oracle, SAP SE, and Freshdesk.
• AI based chatbots have been deployed by many companies for customer service software to improve the customer experience, handle a large volume of customer interactions, and provide quick and accurate responses.

Trends in the Customer Service Software Market

• A cloud-based solution as it provides easy access to customer service data and improves collaboration among team members.
• Omni channel support such as email, chat, and social media, to improve customer experience.
• Artificial Intelligence (AI) based chatbots which can handle a large volume of customer interactions and provide quick responses.
• Self-service portals as they allow customers easy access to information and self resolve issues.
• Personalization: Companies are increasingly focusing on providing personalized support to improve the customer experience.
• Integration with other systems such as CRM and marketing automation software, to improve the overall efficiency and effectiveness of their customer service operations.
• Gamification: such as reward systems, to engage and motivate customers to interact with their customer service software.
• Automation for ticket management and case resolution, to improve efficiency and reduce costs.

Customer Service Software Market Dynamics

Below are the some of the reasons why the market for customer service software is growing

• The increasing need to improve customer experience: Companies are more aware of the importance of improving customer experience, hence driving the adoption of customer service software.
• Growth in e-commerce and online businesses which need good customer service software to function.
• The rising usage of analytics in customer service software to track and measure customer interactions and improve service levels.
• The growing adoption of smartphones and social media for customer service interactions, which is driving the need for customer service software that can support these channels.

Customer Service Software Market Growth Hampering Factors

The cost of maintaining customer service software can be high, which can have a negative impact on the market.

• Potential risks of data breaches and other threats to data security can be a challenge for market growth.
• Many businesses may lack the technical expertise needed for the implementation and maintenance of customer service software.
• Integration with existing systems can also be a challenge for market growth as it can be complex and time consuming.
• Other factors include limited scalability, limited ability to meet specific business requirements, dependence on the Internet and connectivity issues and the dependence on third-party vendors for support and maintenance

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Market Segmentation

The customer service software market can be segmented based on:

• Deployment: Cloud-based, on-premise, hybrid
• Enterprise size: Large enterprises and SMEs
• Component: Service and Software
• Functionality: Automation, Reporting, Omni channel support and analytics
• Industry vertical: Healthcare, manufacturing, BFSI, retail, telecommunications, IT etc.
• Artificial Intelligence: Non AI-based and AI based
• Support: Chat, Social Media, Email, Audio and Video
• Based on customizable and non-customizable, self-service and assisted service, and lastly mobile and web-based

Segmenting the market helps companies better understand the target audience for enhanced products and services that meet specific needs.

Customer Service Software Market Overview by Region

• North America has the largest customer service software market share in terms of revenue and is expected to grow at a good pace. The United States is the largest market in North America, with a large number of small and medium businesses working in the field along with a highly developed IT infrastructure. The region also has a well-established customer service software ecosystem.
• In Asia-Pacific, the customer service software market share is estimated to grow at the highest CAGR during the forecast period. The market has experienced high growth in the region due to high penetration of smartphones, high growth in e-commerce, and a robust and tech-savvy middle class using social media.
• In Europe the customer service software market share is the third highest, and one of the reasons is the rising trend of multichannel customer service amongst many other factors.
  

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Customer Service Software Market Key Players

• Zendesk
• Salesforce
• Freshdesk
• ServiceNow
• Zoho
• SAP
• Oracle
• Microsoft
• Genesys
  

Some other players include Five9, Desk.com, Assistly, HappyFox, Kayako, HelpDesk, Helpshift, Groove, Front, Freshsales, Gorgias, Intercom, Infosys, LivePerson, TeamSupport, TeamViewer, Vision Helpdesk and Deskpro

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Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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